All those tax breaks for corporations and the rich, skyrocketing deficit and debt. And is anyone surprised?

The booming global economy is at risk of another financial collapse, the International Monetary Fund warned today, as the good times persuade countries to pile up debt and lull regulators into complacency.

"No financial regulatory framework can or should aim to reduce the probability of crisis to zero, so regulators should remain humble," the organization says in its annual Global Financial Stability report released this morning.

"Risks tend to rise during good times, such as the current period of low interest rates and subdued volatility, and those risks can always migrate to new areas."

This is why the Jerome Powell Federal Reserve should continue to raise interest rates, despite the torrent of criticism that will come from Donald Trump and all his economic advisers like Larry Kudlow.

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